Moxsh Overseas Educon Limited (MOXSH)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Moxsh Overseas' revenue was ₹10.5 Cr (+160.4% year on year, +335.7% on the previous half-year), and net profit ₹4.7 Cr (against a loss a year earlier); the operating margin was 66.7%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹10.5 | +160.4% | +335.7% |
| Operating profit | ₹7.0 | — | from loss |
| Net profit | ₹4.7 | from loss | from loss |
| EPS (₹) | 5.03 | from loss | from loss |
| Operating margin | 66.7% | — | — |
MOXSH delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the MOXSH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 83.19%. That is close to its usual level. Turnover was only ₹11 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 1 session in about the last 20.
Delivery in the last 5 sessions: 50.0% · 100.0% · 100.0% · 95.9% · 100.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Moxsh Overseas Educon Limited has submitted the voting results and scrutinizer's report following its 8th Annual General Meeting held on September 30, 2026, via Video Conferencing. The filing confirms the submission under Regulation 44(3) of SEBI LODR, recording shareholder approval of the agended businesses. With a market capitalization of Rs 107 Cr and TTM revenue of Rs 23 Cr, this represents a standard procedural corporate compliance event.
- 8th Annual General Meeting conducted on September 30, 2026, via VC/OAVM
- Voting results and Scrutinizer's Report filed with NSE under Regulation 44(3) on October 01, 2026
- Company trades at a market cap of Rs 107 Cr against TTM revenue of Rs 23 Cr
Moxsh Overseas Educon Limited has issued notice for its 8th Annual General Meeting (AGM) to be held on September 30, 2026, via Video Conferencing. Key agenda items include adopting standalone and consolidated FY26 financials, re-appointing Mrs. Priti Dhananjay Shah as Director liable to retire by rotation, and re-appointing two Independent Directors for a second 5-year term. The document also includes subsidiary Meduclinic Healthcare Private Limited's performance, reporting a FY26 turnover of Rs 137.93 Lacs and PAT of Rs 14.59 Lacs. The cut-off date for e-voting eligibility is set for September 23, 2026.
- 8th AGM scheduled for September 30, 2026, with remote e-voting active from September 27 to September 29, 2026
- Shareholder eligibility cut-off date fixed as September 23, 2026
- Special resolutions proposed for re-appointment of Independent Directors Mohit Vanawat and Nareshkumar Prajapati for 5-year terms ending September 8, 2032
- Wholly-owned subsidiary Meduclinic Healthcare reported FY26 turnover of Rs 137.93 Lacs and PAT of Rs 14.59 Lacs
Moxsh Overseas Educon has approved the appointment of M/s. K K A B & Co LLP as Statutory Auditors to fill the casual vacancy created by the resignation of M/s. S S S R & Associates LLP. The board has also recommended K K A B & Co LLP's appointment for a regular term of 5 consecutive years from the conclusion of the 8th AGM to the 13th AGM. Additionally, the board approved the re-appointment of Independent Directors Mohit Vanawat and Nareshkumar Prajapati for second 5-year terms commencing September 2027.
- Appointed M/s. K K A B & Co LLP as Statutory Auditors to fill casual vacancy following the resignation of M/s. S S S R & Associates LLP
- Recommended statutory auditor appointment for a 5-year tenure from the 8th AGM until the 13th AGM, subject to shareholder approval
- Re-appointed two Non-Executive Independent Directors for a second term of 5 years effective September 09, 2027 to September 08, 2032
- Appointed Scrutinizer for e-voting for the upcoming 8th Annual General Meeting
Moxsh Overseas Educon has approved the appointment of M/s. K K A B & Co LLP as Statutory Auditors to fill a casual vacancy resulting from the resignation of M/s. S S S R & Associates LLP. The Board also recommended their appointment for a 5-year term spanning from the 8th AGM to the 13th AGM, subject to member approval. Additionally, Independent Directors Nareshkumar Prajapati and Mohit Vanawat were recommended for a second 5-year term effective September 9, 2027.
- Appointed M/s. K K A B & Co LLP as Statutory Auditors to fill casual vacancy caused by resignation of M/s. S S S R & Associates LLP
- Recommended 5-year term for K K A B & Co LLP from conclusion of the 8th AGM to the 13th AGM
- Re-appointed Independent Directors Mohit Vanawat and Nareshkumar Prajapati for a second 5-year term (Sep 9, 2027 to Sep 8, 2032)
- Approved convening of the 8th AGM and Directors Report for FY ended March 31, 2026
Moxsh Overseas Educon Limited has informed the exchanges that its statutory auditor, M/s. S S S R & Associates LLP, has tendered its resignation with immediate effect from September 2, 2026. The auditor cited pre-occupation and other professional commitments for their premature exit before the scheduled term expiry of March 31, 2029. The auditor confirmed that there are no other material reasons or management-imposed limitations, having last submitted the audit report for FY26 on May 30, 2026.
- Resignation of statutory auditor M/s. S S S R & Associates LLP effective September 2, 2026
- Auditor tenure was originally scheduled to end on March 31, 2029, following appointment on September 27, 2024
- Last audit report submitted was for the financial year ended March 31, 2026, on May 30, 2026
- Auditor confirmed no material disputes, concerns, or management-imposed limitations
Moxsh Overseas Educon has announced the resignation of its statutory auditor, M/s. S S S R & Associates LLP (formerly Sanjay Rane & Associates LLP), effective September 2, 2026. The auditor's term was originally scheduled to end on March 31, 2029, following their appointment on September 27, 2024. The firm cited pre-occupation and other professional commitments for the mid-tenure exit, confirming there are no other material reasons or audit concerns.
- Resignation of Statutory Auditor M/s. S S S R & Associates LLP effective September 2, 2026
- Auditor tenure was originally scheduled through March 31, 2029 (appointed September 27, 2024)
- Auditor cited preoccupation and other professional commitments as the sole reason for resignation
- No disagreements, management-imposed limitations, or audit concerns were reported
Financial Performance
Revenue Growth by Segment
Revenue grew 72.4% YoY for the half-year ended September 30, 2025, reaching INR 9.65 Cr compared to INR 5.59 Cr in the previous period. The FMGE coaching segment targets a market of INR 500 Cr, while the Overseas MBBS placement segment targets a market of INR 250 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the company sources students from India for placement in overseas medical universities.
Profitability Margins
Net Profit Margin stood at 3.88% for the half-year ended September 30, 2025, with a profit of INR 37.53 Lakhs on revenue of INR 965.59 Lakhs. Direct costs represent 59.4% of revenue.
EBITDA Margin
EBITDA Margin is approximately 12.3%, calculated from a Profit Before Tax of INR 60.71 Lakhs plus Finance Costs of INR 41.35 Lakhs and Depreciation of INR 17.13 Lakhs against revenue of INR 965.59 Lakhs.
Capital Expenditure
The company is raising INR 4.30 Cr through a preferential issue of equity shares (INR 3.02 Cr) and warrants (INR 1.28 Cr) to fund general corporate purposes and expansion.
Credit Rating & Borrowing
Not disclosed, but the company reported finance costs of INR 41.35 Lakhs for the half-year ended September 30, 2025.
Operational Drivers
Raw Materials
Direct service costs and student placement expenses represent 59.4% of total revenue (INR 5.73 Cr).
Capacity Expansion
The addressable market includes 3.7 Lac students currently studying in 784 medical colleges in India. The company is expanding its digital reach via the MOKSH App on Android and iOS.
Raw Material Costs
Direct costs reached INR 573.87 Lakhs, representing 59.4% of revenue for the half-year ended September 30, 2025.
Strategic Growth
Expected Growth Rate
72.40%
Growth Strategy
The company plans to achieve growth by leveraging its unique integrated model of providing both overseas MBBS placement and FMGE/USMLE coaching. It is raising INR 4.30 Cr to expand its digital coaching platform (MOKSH App) to capture the INR 500 Cr FMGE market, which is double the size of the placement market.
Products & Services
MOKSH App-based coaching, FMGE (Foreign Medical Graduate Examination) coaching, USMLE (United States Medical Licensing Examination) coaching, and Overseas MBBS counseling and placement services.
Brand Portfolio
MOKSH, MOXSH OVERSEAS EDUCON.
New Products/Services
A unique 'Combo offer' has been launched for students going abroad, integrating placement services with license exam coaching.
Market Expansion
Targeting the 3.7 Lac students in 784 Indian medical colleges for license exam coaching.
Market Share & Ranking
MOKSH claims to be the only Indian company providing both overseas placement and license exam coaching services.
External Factors
Industry Trends
The industry is shifting toward mandatory licensing exams (NExT/FMGE) for all medical graduates, increasing the demand for integrated coaching services.
Competitive Landscape
Fragmented market for placements, but MOKSH competes as a specialized integrated player.
Competitive Moat
The moat is based on being the only integrated service provider in India for both placement and coaching, creating high switching costs for students using the 'Combo offer'.
Macro Economic Sensitivity
Sensitive to Indian government regulations regarding medical education and international travel norms for students.
Consumer Behavior
Rising demand for USMLE and PG-level qualifications as MBBS degrees alone offer lower ROI and respect in the medical market.
Geopolitical Risks
Changes in international relations with popular MBBS destinations (e.g., Russia, Philippines) could disrupt the INR 250 Cr placement market.
Regulatory & Governance
Industry Regulations
Regulated by the National Medical Commission (NMC) guidelines for foreign medical graduates and license exam requirements.
Risk Analysis
Key Uncertainties
Regulatory shifts by the NMC regarding the timing and mandatory nature of license exams could impact 50% of the addressable market value.
Third Party Dependencies
High dependency on foreign medical universities for student intake and placement slots.
Technology Obsolescence Risk
The company is mitigating tech risks by transitioning to a mobile-first coaching model via the MOKSH App.
